The Globe and Mail reports in its Tuesday, Dec. 9, edition that RBC Dominion Securities analyst Darko Mihelic has elevated his recommendation for Laurentian Bank of Canada to "sector perform" from "underperform." The Globe's David Leeder writes that Mr. Mihelic's share target soared $15 to $40. Analysts on average target the shares at $40.34. Mr. Mihelic views Laurentian's $1.9-billion all-cash takeover by Fairstone Bank of Canada positively, noting it represents 72 per cent of Laurentian's fourth quarter tangible book value. Mr. Mihelic says in a note: "Laurentian noted that the bank had assessed multiple approaches for its retail and SME banking services in recent years but substantial investments would be needed to sustain a competitive position in the Canadian banking landscape, along with evolving regulatory requirements and rising customer expectations it was increasingly difficult to compete effectively. ... We believe the purchase price by Fairstone is attractive and unlocks value for shareholders, especially as Laurentian has been aiming to improve efficiency over time. There will be no restrictions on dividend payments until closing although Laurentian will not be able to increase the dividend going forward."